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Oklahoma City down payment assistance program aims to boost neighborhoods

Oklahoma City is offering down payment assistance of up to $10,000 for qualifying people interested in buying a home in the city's core. Officials hope the program will help property values in struggling neighborhoods.

BY MICHAEL KIMBALL mkimball@opubco.com •
Published: April 17, 2012

People who own their homes tend to take better care of them, and those who live next to a well-kept home often respond by paying extra attention to their own. Oklahoma City officials hope to use this to the city's benefit by helping people out with down payments.

Qualifying potential home buyers could get $10,000 for a down payment to buy this houe at 110 NW 24 in Oklahoma City. Michael Kimball - The Oklahomoan

Qualifying Oklahoma City residents can receive assistance of up to $10,000 for making a down payment on a home in the city's core as part of a program funded by the federal Housing and Urban Development Department. Those with incomes near or less than the area's median income are eligible.

Homes that can be bought with the money are in selected areas inside a box bordered by Memorial Road on the north, SE 89 and SW 89 on the south, Meridian Avenue on the west and Bryant Avenue on the east.

Homes owned by community groups are eligible for the $10,000 down payment assistance and come with energy-efficient renovations. A 3 bedroom, 2 bathroom home owned by a neighborhood association at 110 NW 24 in the historic Jefferson Park neighborhood is an example, with a renovated detached garage, hardwood floors and updated fixtures.